ParimalDevnath
Long

GlenmarkPharma

NSE:GLENMARK   GLENMARK PHARM
Two/three signs of trend reversal and probable confirmation. After trading below 200 DMA in June 2017, the stock was under strong bear grip. At present it moved above 200 DMA and 50 is crossing 100 DMA which is one more sign of trend reversal. Another confirmation will come when 50 will cross 200. Due to Negative Divergence, price may halt at the present level. Bulls are strongly guarding 560 Put strike with a huge position and they have also built very good position at 600 Put strike. Bears are sitting firmly at 640 Call strike. If at all price corrects towards 200 DMA (571), one may like to buy the scrip with a small SL.

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